A curated selection of links we hope can enlighten us all; some come from our corner, some do from other corners of the net. And as always, our comment widgets are anxious to get your suggestions: We’re not the only ones to be suspicious of Merkozy Give Britain five years and it’ll recover Spain highly leveraged? Check the numbers, will you? If you want to be managing director at Goldman Sachs,…
By Europa Press | The Italian Treasury on Friday placed €10 billion in two debt auctions, one due at six month and the other at twenty four months. Yet, it has been forced to provide record interests: 6.504% and 7.814%, respectively. Specifically, Italy’s Treasury sold €8 billion in bonds with six-month maturity for which they had to offer a record yield of 6.504%: 84% more than in the previous auction…
By Julia Pastor, in Madrid | British pro-Europe think tank Centre for European Reform (CER) has published a study in which they assure that the debt crisis is not only the peripheral countries’ fault, the so called Club Med, but also a consequence of core countries’s, such as Germany, economic practices. The essay by experts Simon Tilford and Philip Whyte, is entlited “Why stricter rules threaten the eurozone.” “The interpretation…
The newspaper El Economista alluded in its Wednesday edition to an article appeared in the magazine Der Spiegel, in which the German publication criticises the German government “because it likes to pride itself of its solid finances, when Germany’s budget management is not exemplary and the national debt could be above the EU limit.” These are some of the most direct statements made in Der Spiegel to chancellor Angela Merkel:…
A curated selection of links we hope can enlighten us all; some come from our corner, some do from other corners of the net. And as always, our comment widgets are anxious to get your suggestions: Humor: What service the next president of Spain should call for… Europe is developing rescue fatigue Get used to the euro crisis: it’s the new normal China worried about banks’ loans to construction companies and…
The Prime Minister of Luxembourg and chairman of the Eurogroup Jean Claude Juncker made stark remarks on the “disturbingly large amount of the German debt,” which the Bonn paper General Anzeiger published on Thursday. “‘Germany has a higher debt than Spain. But nobody here wants to acknowledge this,’ said Juncker, who expresses understanding regarding the fears of Germany caused by the current financial crisis. “‘Here (in Germany) they witnessed, twice,…
By Julia Pastor, in Madrid | The shared understanding between Berlin and Paris, that is, between chancellor Angela Merkel and president Nicolas Sarkozy, has suffered a breakdown for the first time since the euro crisis began. The reason is their different views on what role the European Central Bank (ECB) should be playing for the euro crisis to find a way out. While France defends giving the European Financial Stability…
By Julia Pastor, in Madrid | The European debt crisis is not just the result of the rescued euro zone member countries, neither a problem worsened by the two southern-Europe biggest economies, namely Spain and Italy. According to a report appeared on Wednesday in El País “the risk premium of 12 countries out of the the 17 states adhered to the single currency has reached not only a record high,…
The economic papers in Spain published on Tuesday the seven Dutch proposals to create an EU commissioner to oversee and intervene in the euro zone budget. This official would have the right to expel members who refuse to meet budget requirements. “It is certainly an interesting idea that Germany supports,” said Chancellor Angela Merkel a few weeks ago. On Monday, in the federal congress of the CDU, the Chancellor again…